To analyze the role of the trade and payments regime in economic development the National Bureau of Economic Research undertook a major research project on this issue. In this article a brief report on some of the findings pertaining to the effect of exchange rates, i. e. devaluation under...

Trade policies in developing countries have been a focal point of analysis for international economists in the past several decades. A desire for rapid economic growth in developing countries raised many questions about the relationship between trade and growth. This chapter discusses that the...